You may know that I’ve been thinking about brand names a lot, due to the fact that my co-founder and I have been going through the branding exercise ourselves for the private hospitality exchange app we are building.
The name we had decided on (after lots and lots of discussion and debate)?
Some of you may have seen, Keith Rabois’ new real estate startup recently announced their new name.
Yup, you guessed it: OpenDoor.
They have already raised $6M of a $9M round. Given that our app isn’t even done yet and we most definitely do not have anywhere close to $9M in funding, there is zero sense in competing with such a well funded startup on brand name.
Thus, we went back to our list of names for a new one. And we ultimately came up with a new one that wasn’t even previously on the list.
In short, “When A Startup with $9M Takes Your Brand Name”, what do you do?
Pick a new brand name, and move on 🙂
PS: I still think OpenDoor is more fitting to the app that we are building than it is for a startup to help home owners buy and sell homes…but $9M says that’s a moot discussion.